Are China's EV price cuts going too far? Chinese official calls on automakers for ‘rational competition'

Independent Singapore

a day ago

Photo: BYD
BEIJING: A senior Chinese official called on major automakers for 'rational competition' in the electric vehicle (EV) industry on Thursday (July 17), Reuters reported, citing a statement from the industry ministry on Friday (July 18).
Che Jun, who is the head of a Communist Party central leading group, made the remarks during a meeting with officials from the industry ministry, along with representatives from BYD and BAIC Group, after China's cabinet pledged it would step in to manage what it described as 'irrational' competition in the EV market and promised tighter price monitoring.
Chinese regulators have urged automakers to stop excessive competition in the auto industry, describing it as 'irrational'.
On Friday, the industry ministry, along with the market regulator and state planner, held a separate meeting with 17 major automakers, auto industry associations, and local officials to discuss the development in the EV sector. /TISG
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